For the Nexus One it is a little bit more difficult. XDA member Rsotbiemrptson has the full run down in his thread here. The basics are as follows,

Root your phone

Install ROM

Flash a new kernel

Install a few hacked apps

Basically, you're going to be hacking your phone either way, but for some of us who don't have good signal where you primarily use your phone, points to myself, this is a necessity now that it is available.

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